Local companies should devote more resources to digital marketing given the changing times, the founder of Filipino-owned digital marketing firm Monolith Growth Ventures Pte. Ltd. said.
Kenn Costales, the founder and managing director of Monolith Growth Ventures, said the company had focused on foreign clients first as these were more ready to embrace a marketing transformation.
“Foreign clients are more ready with the concept of digital marketing while local clients are not ready yet in a sense that they don’t know how it can help their businesses,” Costales told The Manila Times late Friday.
“In the US, for example, will take only four weeks to close it. In the Philippines and in other Southeast Asian countries, it takes months to close the deal,” he added.
Costales, who handled brand management and business development at Procter and Gamble before establishing Monolith Growth Ventures, said was optimistic that Filipino companies would embrace digital marketing.
“If you don’t get enough leads or traffic to your websites, lectures or your white paper, then it will impact your revenue eventually. It should happen because it’s still marketing and sales at the end of the day,” he stressed.
A digital upgrade, he claimed, could lead to around 10 percent to 30 percent revenue growth in three months.
“A lot of companies lack a system of generating leads online because right now it’s still traditional in a sense that they buy a lead … and then they call them up through the phone,” Costales said.
As for Monolith, he said: “We focus on our clients’ revenue and ROI (return on investment) by building the full marketing funnel that goes beyond mere advertising and involves landing page optimization and CRM (customer relationship management) development. We’ve also built internal ad optimization software to enable us to get more revenue faster.”
The Singapore-based firm is targeting telecom, utilities, and business process outsourcing firms in the Philippines, Costales said, with “ talks still in progress”.
He said the company was aiming to hit P50 million revenues by the year 2018 via continued expansion in Singapore as well as in the Philippines.